Moncler downgraded to Neutral from Buy at Goldman Sachs
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New York Post
30 minutes ago
- New York Post
Trump blasts Goldman Sachs CEO David Solomon over bank's tariffs warning: ‘Focus on being a DJ'
President Donald Trump on Tuesday said Goldman Sachs boss David Solomon should go back to 'being a DJ' and teed off on the investment bank after it warned that US consumers will soon pay the brunt of tariff-related price hikes. Trump fumed over a revised analysis released Monday by Goldman's chief economist Jan Hatzius forecasting that households will soon cover 64% of tariff costs — after absorbing 22% through June. 'I think David should go out and get himself a new economist, or maybe he ought to just focus on being a DJ, and not running a financial institution,' Trump wrote in a Truth Social post. 3 Goldman Sachs CEO David Solomon performs as DJ D-Sol at a music event. David Solomon/Instagram The slap at Solomon referred to the Wall Street titan's side gig as DJ D-Sol, which landed him in hot water with insiders at the bank as profits and morale declined after the pandemic. Trump went on to blast Goldman for being wrong about its predictions earlier this year that the economy could fall into a recession because of tariffs. Last month, the bank lowered the risk level of a recession to 30% from the 60% it had forecast following the 'Liberation Day' rollout in April. 'David Solomon and Goldman Sachs refuse to give credit where credit is due,' Trump wrote. 'They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else.' Goldman declined to comment. 3 Trump accused Solomon of refusing to acknowledge the benefits of his tariffs during a Truth Social post. Trump claimed the duties have poured 'trillions of dollars' into US coffers — a figure contradicted by Treasury Department data released last month that showed customs duties generated from April to June were $64 billion. Treasury Secretary Scott Bessent has projected the tariffs will bring in about $300 billion by the end of the year. Solomon had built a high-profile career while moonlighting as a DJ, performing at major festivals and releasing Billboard-charting tracks. 3 President Donald Trump (left) criticized Goldman Sachs CEO David Solomon over the bank's warning that US consumers will bear more tariff costs. Will Oliver – Pool via CNP / MEGA He put away the turntables, at least in public, in 2023 to focus on his Wall Street role, though he continues to DJ privately at personal events. Inflation held steady in July, with the annual consumer price index at 2.7%, according to data released Tuesday. Core inflation, which strips out food and energy, climbed to 3.1% in July, from 2.9% the previous month. Food prices rose 2.9% year-over-year, used car prices jumped 4.8% and gasoline fell 9.5%, as tariffs earlier this year added some upward pressure on core prices.
Bloomberg
31 minutes ago
- Bloomberg
Deutsche Bank Hires Ex-Goldman, BofA Executives in EM Expansion
Deutsche Bank AG is hiring former sales executives from Goldman Sachs Group Inc. and Bank of America Corp., according to people familiar with the matter, as part of the bank's effort to expand in emerging markets. Joseph Puerner, a former Goldman executive who focused on EM international sales, and Chris Pavacic, who was most recently handling developing-nation fixed-income sales at BofA, are joining the German lender in New York, the people said, asking not to be identified discussing personnel information.
Business Insider
32 minutes ago
- Business Insider
Monday.com price target lowered to $275 from $325 at DA Davidson
DA Davidson lowered the firm's price target on (MNDY) to $275 from $325 and keeps a Buy rating on the shares. The company reported a solid quarter with a slightly lower than typical beat driven primarily by weakness around net new demand from SMBs as a result of changes to Google's (GOOGL) Search algorithm, the analyst tells investors in a research note. guidance was also raised less than the size of the beat, even though the management remains optimistic about its multi-product opportunity and move upmarket, the firm added. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
